Shares of HDFC Bank were down a little over one per cent on Friday after the stock was dropped by the MSCI India Index in its semi-annual index review. The stock, which has been under pressure for want of higher foreign investment limits, declined 1.5 per cent to close at Rs 899 a share.

Analysts said the HDFC Bank shares were unlikely to see steep downside pressure because of the high investor-interest in the stock. HDFC Bank had a weightage of around two per cent in the MSCI Index, analysts said.

Shares of DLF on Friday rose over six per cent, adding Rs 1,407 crore to its market valuation, after the Securities Appellate Tribunal (SAT) allowed the realty giant to redeem mutual funds (MFs) worth Rs 1,806 crore to meet working capital needs and service debt payments.

After surging 6.59 per cent to Rs 135 in intra-day trade, shares of DLF finally ended at Rs 134.55, up 6.24 per cent at the BSE.

HDFC Bank and Axis Bank have decided to charge their own customers for more than five transactions at its automated teller machines starting 1 December.

HDFC Bank will charge Rs 20 for financial transactions and Rs 8.5 (excluding taxes) for non-financial transactions (balance enquiry, mini statement, etc).

Engineering and construction company Larsen & Toubro (L&T) has reported a seven per cent rise in its consolidated net profit for the September quarter of FY15 compared to the year-ago period. However, the company management has said it might miss the annual revenue and margin forecast owing to delays in projects and problems in execution of hydrocarbon projects.

Net profit rose to Rs 862 crore from Rs 806 crore and the result was aided by a two per cent decline in finance cost following refinancing of its long-term loan.

Shares of Axis Bank has moved higher by nearly 3% to Rs 472, also its record high on the National Stock Exchange (NSE).

Shares of the private sector lender outperformed the market by surging 82% from Rs 260 so far in current calendar year 2014, compared to 32% rise in CNX Nifty. The banking index Bank Nifty gained 52% during the same period.

Bank of Baroda was down 2% to Rs 934 on the Bombay Stock Exchange (BSE) at 1035 hrs as the bank reported a 5.5% dip in Q2 net profit at Rs 1,104 compared to Rs 1,168 crore in the year-ago period.

Gross NPAs rose to 3.32% compared to 3.11% in the previous quarter.

DLF is trading 4% higher at Rs 132 on BSE, in otherwise subdued market, after the Securities Appellant Tribunal (SAT), in an interim relief, allowed real estate giant to redeem its mutual fund investments of Rs 1,806 crore to service its debt.

After hearing an appeal for interim relief by DLF, the Tribunal allowed the company to redeem mutual funds worth Rs 767 crore in the current month and further funds worth Rs 1,039 crore in December, the PTI report suggests.

A Torpedo Recovery Vessel of Indian Navy today sunk off the Visakhapatnam coast during a naval exercise killing one sailor while four others went missing.

23 people have been rescued and a search and rescue operation was launched for the missing.

Maruti Suzuki India Limited aims to design and develop its own car, without much support from its Japanese parent Suzuki Motor Corporation (SMC), by 2017, an official said.

India’s largest carmaker, which draws much of its technical know-how from SMC, is keen on its 2,000-strong research and development (R&D) team making a car.

Indian Bank has posted a 2.46 per cent growth in net profit at Rs 314 crore for the quarter ended September 30, 2014, compared with Rs 307 crore in the year-ago period. Total income during the quarter under review saw a growth of 6.43 per cent to Rs 4,340 crore, against Rs 4,078 crore in the July-September 2013 quarter.

Gross non-performing assets (NPAs) of the bank rose to 4.21 per cent at Rs 6,003 crore during the quarter, compared to 3.76 per cent at Rs 4,179 crore in the year-ago quarter. Net NPA, however, stood at 2.55 per cent compared to 2.58 per cent.

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